Sen. Schumer threatens Countrywide Mortgage and Orange Mozilo. HP just laughs and laughs and laughs some more

Senator Schumer, you, my friend, are a poodle.

Don't you get it? The cat is already out of the bag. The damage has been done. Your banker buddies got burned. And all your grandstanding and blowharding (is that a word?) isn't gonna help 'em, or America. We're toast.

Sure, go after Countrywide and Orange Mozilo - good luck with that. Once they file for Bankruptcy protection, is there really much you or they can do? (note - I'm short CFC)

Here's Schumer's money boys FYI. All the big banks and bagholders that got burned by Countrywide's reckless lending. Kinda makes you see things in a different light, eh HP'ers?

Schumer Tells Countrywide To End Lending Practices

WASHINGTON -(Dow Jones)- Countrywide Financial Corp. (CFC) should stop paying brokers higher commissions for steering borrowers to adjustable rate subprime home loans, Sen. Charles Schumer, D-N.Y., said Wednesday.

"Startling reports have shed light on how Countrywide has led the industry in the practice of steering borrowers into risky subprime loans," said Schumer, who is chairman of the Senate Housing Subcommittee. Schumer said that as of June 30, approximately one in four of the subprime loans issued by Countrywide was delinquent.

Subprime Bailout? You want to FUC*ING BAILOUT HOUSING GAMBLERS AND BANKS? Well, I think HP'ers have a thing to say about that!

Here's Jim Saxon, Schumer's enemy and leading Republican on the Joint Economic Committee that is considering this bullsh*t bailout legislation

Here's the blowhard idiot Charles Schumer's contact form.

Here's the proof that Schumer is one of the most corrupt Senators in history (contributor list), which reads like a who's who of the subprime crash bankrollers:

1 Goldman Sachs $350,850
2 Citigroup Inc $227,550
3 JP Morgan Chase & Co $195,900
4 Credit Suisse First Boston $191,294
5 Morgan Stanley $186,500
6 Bear Stearns $154,250
7 Merrill Lynch $125,100
8 AOL Time Warner $114,000
9 UBS Americas $108,500
10 Lehman Brothers $107,000

Here's an article today on this potential legislative disaster

Amid new signs that the housing slump is worsening, key Senate Democrats said Wednesday that hundreds of millions of dollars of new federal aid may be needed to assist homeowners at risk of foreclosure.

The call for federal involvement from New York Democrat Charles Schumer, chairman of the Joint Economic Committee, came on the same day the National Association of Realtors forecast that the median price for existing homes will decline for the first time since 1968 as a sales slump worsens.

“We will be proposing significant amounts of dollars,” Schumer told reporters after being asked if a large federal bailout may be needed.

As predicted, our gutless, incompetent and brain dead congressmen are now talking about bailing out the failed housing flippers

I thought April Fools was a few days ago. My only question is - WHAT THE F*CK IS GOING ON IN AMERICA WHEN CONGRESS TALKS ABOUT BAILING OUT FAILED HOUSING FLIPPERS AND GAMBLERS?

Good god people, we're run by monkeys.

Schumer calls for subprime bailout - New York Democrat wants funds to help subprime borrowers.

The federal government should offer troubled borrowers hundreds of millions of dollars to bail them out of subprime mortgage loans, several leading Democratic lawmakers said on Wednesday.

"The federal government can send in an infusion of [money] to prevent foreclosure," said Charles Schumer, a New York Democrat.

The cash infusion is needed right away and should go to both help fund community groups aiding troubled borrowers and to directly fund bailouts, Schumer said.

Schumer spoke as chairman of the Joint Economic Committee, a joint committee of Congress, and appeared with Democratic senators Robert Menendez of New Jersey and Sherrod Brown of Ohio.

He said he planned to introduce legislation soon.